Circle Unveils Arc Blockchain with $3 Billion Valuation

Circle, a leading provider of digital financial infrastructure, has made a major push into the blockchain space with the launch of the Arc network. The new platform, which is backed by a16z and BlackRock among others, has secured $222 million in funding through a token presale, valuing the network at $3 billion on a fully diluted basis.

The investment was led by Andreessen Horowitz, with BlackRock committing $75 million to the round. Other notable backers include Apollo Funds, Intercontinental Exchange, and Standard Chartered Ventures.

Arc is designed as a public blockchain for institutional finance, and will use USDC as its native gas token. The network promises sub-second finality, opt-in privacy, and EVM compatibility, making it an attractive option for financial institutions.